Question
Below is the information for the current year ended 12/31/19 for a paper company: Beginning finished goods inventory = $9,440 Beginning work in process inventory
Below is the information for the current year ended 12/31/19 for a paper company:
Beginning finished goods inventory = $9,440
Beginning work in process inventory = $5,810
Beginning raw materials inventory (direct materials) = $8,700
Direct labor used = $23,130
Factory overhead (OH) = $31,090
Administrative salaries = $22,000
Ending finished goods inventory = $10,320
Ending work in process inventory = $5,250
Ending raw materials inventory = $8,995
Depreciation - main office = $4,500
Raw materials purchases (direct materials) = $27,470
Advertising expenses = $19,000
Sales = $424,355
Cash = $28,000
Sales Commissions = $18,100
Factory equipment, net = $242,500
Accounts receivable, net = $14,600
A. What is the cost of direct materials used during the period?
B. What is the amount of total manufacturing costs during the period?
C. What is the cost of goods sold (COGS) during the period?
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